Jan. 21, 2020 - In our annual forecast of the year ahead for Canadian competition and foreign investment review law, we evaluate how developments in 2019 will influence these areas of the law in 2020. We discuss below the main issues and trends to watch for this year. Continued Focus on Enforcement in the...
Transcontinental: Competition Bureau uses Consent Agreement to Test Failing Firm Analysis
On May 28, 2014 the Competition Bureau announced that it had reached a consent agreement with Transcontinental relating to its proposed acquisition of 74 community newspapers from Quebecor Media. The objective of the consent agreement was to preserve competition in the sale of advertising in community newspapers in the Province of Québec by requiring that a number of the parties’ newspapers be put up for sale.
This article by Charles Tingley discusses what this settlement indicates about how the Bureau might in future be prepared to approach failing firm analysis when reviewing whether a proposed merger is likely to lessen competition substantially. That approach could create uncertainty for purchasers and vendors about when and how the Bureau will test claims about the financial distress of takeover targets and the absence of competitively preferable purchasers to acquire them.
Jan. 15, 2020 - The official Annual Report under the Investment Canada Act (ICA) for the fiscal year 2018-19 was released at the end of 2019. This document sets out various statistics and other noteworthy developments during that time frame (i.e., April 1, 2018 to March 31, 2019) relating to the two...